Pepper market on February 16, 2024: Continues to increase in some key provinces

Domestic pepper prices

According to the survey,  pepper prices  in the domestic market fluctuated between 81,500 - 85,000 VND/kg after being adjusted to increase in some localities.

Records show that Dong Nai province has the lowest price of 81,500 VND/kg and Gia Lai province has a slightly higher price of 82,000 VND/kg.

Next is Ba Ria - Vung Tau province with a price of 84,000 VND/kg.

In Dak Lak and Dak Nong provinces, pepper is purchased at a general price of 84,500 VND/kg - an increase of 500 VND/kg.

Similarly,  today's pepper price  in Binh Phuoc province also increased by 500 VND/kg to 85,000 VND/kg.

World pepper prices

According to an update from the International Pepper Association (IPC) on February 15 (local time), the price of Lampung black pepper (Indonesia)  decreased by 0.13%  compared to February 14.

At the same time, prices of Brazilian black pepper ASTA 570 and Kuching (Malaysia) ASTA black pepper remained stable.

According to  peppertrade , the Vietnamese market in the week of June 2024 is considered quiet when most people are busy preparing for the Tet holiday.

At the same time, Muntok pepper prices remained firm due to reduced production and limited raw material supply with strong domestic consumption offsetting weak overseas demand, the market is now tilted towards Brazil.

However, news of crop failure and local currency fluctuations have caused raw material prices to skyrocket from 16 reals/kg previously to 17 reals/kg currently, so although demand is high, supply is very limited. limit.

Overall, most traders are still choosing to wait after Tet in anticipation that Vietnam's incoming crop could bring some relief.

However, when the push comes and the peak does not create enough selling pressure, the current price trend can escalate significantly from current levels.

According to VietnamBiz.vn